Tennessee Valley Asset Management Partners Sells 142 Shares of Tesla, Inc. (NASDAQ:TSLA)

Tennessee Valley Asset Management Partners reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the 4th quarter, Holdings Channel reports. The firm owned 2,559 shares of the electric vehicle producer’s stock after selling 142 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Tesla were worth $636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mount Vernon Associates Inc. MD raised its stake in Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after buying an additional 350 shares during the period. Oak Ridge Investments LLC boosted its position in Tesla by 4.6% during the 3rd quarter. Oak Ridge Investments LLC now owns 32,230 shares of the electric vehicle producer’s stock worth $8,065,000 after acquiring an additional 1,405 shares during the last quarter. Corient Private Wealth LLC boosted its position in Tesla by 3.7% during the 3rd quarter. Corient Private Wealth LLC now owns 728,615 shares of the electric vehicle producer’s stock worth $182,352,000 after acquiring an additional 25,943 shares during the last quarter. Nordea Investment Management AB boosted its position in Tesla by 11.8% during the 4th quarter. Nordea Investment Management AB now owns 776,765 shares of the electric vehicle producer’s stock worth $193,935,000 after acquiring an additional 81,729 shares during the last quarter. Finally, First National Corp MA ADV boosted its position in Tesla by 30.0% during the 4th quarter. First National Corp MA ADV now owns 1,401 shares of the electric vehicle producer’s stock worth $348,000 after acquiring an additional 323 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSLA. Royal Bank of Canada reissued an “outperform” rating and issued a $298.00 price objective on shares of Tesla in a report on Wednesday, March 27th. Edward Jones cut Tesla from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. JPMorgan Chase & Co. lowered their price objective on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Canaccord Genuity Group reduced their target price on Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Finally, UBS Group reduced their target price on Tesla from $225.00 to $165.00 and set a “neutral” rating on the stock in a report on Thursday, March 14th. Eight investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $194.70.

Tesla Price Performance

Shares of TSLA opened at $147.05 on Monday. The company has a market capitalization of $468.32 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 3.89 and a beta of 2.39. The business has a 50-day moving average of $178.51 and a 200-day moving average of $210.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. Tesla, Inc. has a 1 year low of $146.22 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The firm had revenue of $25.17 billion for the quarter, compared to the consensus estimate of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.97 earnings per share for the current year.

Insider Activity

In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,920,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock worth $38,802,534 over the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.